Oil spiked following a televised address by Russian President Vladimir Putin, which revealed the Russian leader’s next move regarding Ukraine. In the speech, Putin recognized the self-proclaimed separatist republics that Russia backs in eastern Ukraine, Bloomberg highlighted, adding that this action intensified a standoff with the West. Following the address, the price of Brent Crude oil was up more than four percent to $97.70 per barrel and the price of West Texas Intermediate (WTI) was up almost four percent to $94.67 per barrel, at the time of writing. This time…
Read MoreOil Spikes, Hits $97.70 Per Barrels
